Europe's Cevian Capital takes stake in ThyssenKrupp

European activist investor Cevian Capital acquires a 5.2% stake in steelmaker ThyssenKrupp (TYEKY.OB, TYEKF.PK), saying its shares are undervalued but that it was encouraged so far by a recent strategic shift by management.

ThyssenKrupp has said it would restructure the company - cutting costs, shopping its loss-making Steel Americas operations and streamlining its European steel operations - so Cevian's next move is not clear.

Shares are ~3.5% higher in Frankfurt trading.

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